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RBS Q4 Profit Surges; To Rename As 'NatWest Group' - Quick Facts

The Royal Bank of Scotland Group plc. (RBS,RBS.L) reported that its profit attributable to ordinary shareholders for the fourth-quarter surged to 1.41 billion pounds or 11.6 pence per share from last year's 286 million pounds or 2.3 pence per share. RBS plans to rename itself as NatWest Group plc later this year.

Profit before impairment losses for the fourth-quarter was 1.71 billion pounds up from 589 million pounds in the previous year.

Total income was 4.23 billion pounds up from 3.06 billion pounds last year.

Other non-interest income was 2.22 billion pounds up from 849 million pounds in the prior year.

RBS continues to expect challenges on 2020 income. In addition, it anticipates that regulatory changes will adversely impact income in personal business by around 200 million pounds.

RBS expects to incur 0.8 billion pounds -1.0 billion pounds of strategic costs during 2020 resulting from a refocussing of NatWest Markets and the continued resizing of the Group's cost base.

RBS also expect to achieve a return on tangible equity of 9-11% in the medium to long term.

NatWest Markets Plc, as a standalone bank, plans to issue 3 billion pounds - 5 billion pounds of term senior unsecured instruments in 2020.

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